During the Current Year, Eleanor Receives Land Valued at $30,000

question 45

Multiple Choice

During the current year, Eleanor receives land valued at $30,000 from the estate of her grandfather. Her grandfather's basis in the land was $8,000. Eleanor sells the land for $34,000 late in the year. Eleanor's gross income is:

• A)$- 0 -
• B)$4,000
• C)$8,000
• D)$16,000
• E)$26,000

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Coercion

The act of compelling or forcing someone to act in a certain way by use of threats or pressure.

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Individuals who report to a superior or higher-ranking personnel in a hierarchical structure.